The 17 Millionth Bitcoin Is About to Be Mined: What It Means and Why It Matters

Barring an unforeseen event, the 17 millionth bitcoin is likely to be mined in the coming day, a development that would mark yet another milestone for the world's first cryptocurrency. That's because as per bitcoin's current rules, only 21 million bitcoin can ever be created. Stepping back, the milestone, the …
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Bitcoin matters not because it’s fast, cheap, or easy; but only because nobody controls it. It grew spontaneously in the wilds of the internet without a central planner. After it, no alt could ever recreate this, as there’s no spontaneous market demand for a less secure Bitcoin.

Bitcoin matters not because it's fast, cheap, or easy; but only because nobody controls it. It grew spontaneously in the wilds of the internet without a central planner. After it, no alt could ever recreate this, as there's no spontaneous market demand for a less secure Bitcoin. submitted by /u/hamerH3a4
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Bitcoin – The Currency of the Internet

The NYA signers have greatly overestimated their importance. They do not speak for me. My node is running 0.15 and that’s the only decision that matters. Join me

Nodes are the validators, miners moving off the network only have the power to temporarily adjust the block time. If we keep our nodes on the network with true innovation and development of applied cryptography (MAST, SegWit, bridged payment channels, tumblebit, schnorr, etc) then the miner fluctuation is merely a temporary nuisance. Undoubtedly some will realize that it's dumb to run a client controlled by people and developers who are amateur at best, have nothing to contribute aside from porting code from core devs, and has an openly admitted purpose of "political compromise."

This is a problem of "industry leaders" thinking too fondly of their own importance. Bitcoin will continue to force their humbleness or ignore them. They simply cannot make the decision they think they have made for us. Being their important selves, they have "solved" our scaling problem and only need the political power and influence to make sure this is easy to do again in the future. That arrogance, desire to control, and political nonsense is the very thing bitcoin is designed to resist.

I've got a full node, and it's staying this time because I didn't fully appreciate how critical it was to keep one running. The NYA "agreement" by a few companies who think they speak for me has made me realize. So I'm not running 2X hardfork on my node. Regardless of whether the entire network splits and does something else. I'm following the developers who know their shit and are actually killing it with new cryptographic applications and brilliant security, thorough testing and implementation, and breakthrough innovations. And I can run that network all by myself if I have to.

Join me. Start up a node. 0.15 is much faster at initial sync and operation. Stake a claim with who you want your developers to be.

TL;DR I didn't sign the NYA. They don't have the authority to speak on my behalf. My node will never run 2X and that's all that matters.

submitted by /u/Cryptoconomy
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Why It Matters That You Run A UASF Node

Bitcoin is a movement of people who run excellent software that enforces and guarantees some unique properties. Those properties give bitcoin a unique utility in the world: peer to peer, decentralized, unforgeable, secure, scarce, private, digital money.

Bitcoin has a high value because for nine years its users and developers have persevered to respond to every attack on the system without compromising decentralization, immutability, and proof of work behind every coin and transaction.

The latest attack on bitcoin, first to prevent SegWit activation and next to try to package it with a rushed hard fork is another attack that will fail. This is because Bitcoin's users do not bow down before would-be conquerors. We do not negotiate to allow some bad things in with the good. We do not allow the integrity of the system to be chipped away at.

Some weak bitcoiners, who focus on the short term price of bitcoin as denominated in US$ or some other fiat currency, but who don't fight for the long term utility of bitcoin will find themselves holding worthless tokens in a failed project. There's been easy money outside of bitcoin lately. But easy come, easy go. Bitcoin isn't easy because the long term value we fight for is so rare and precious. It didn't come easy, and everyone can also see, it won't go down easy either.

Running UASF is taking a stand for bitcoin's principles. It is a stand in favour of excellence in bitcoin software without compromise. And in the end, since bitcoin is software, it is a stand against corrupting bitcoin's excellence by those who are less than excellent in developing, testing and deploying software designed to produce bitcoin's unique properties.

Some readers here may not like it that the rest of us fight for these principles, especially when it scares away naive newcomers who don't understand what we are fighting for. This fight offers anyone the choice to hide in their basements without engaging in it and only to emerge when the fight is over. Of course, those people are also free to leave altogether by buying an altcoin or going to fiat.

But, you can also participate in the fight to preserve bitcoin's unique features. You can educate yourself and advocate for a solution your independent, reasoning mind has reached. I, for one, am happy to provide objective facts to anyone who is genuinely interested in learning more about bitcoin and about why users can always protect its principles by simply refusing to let anyone violate those principles.

Those who mistakenly hope that greatness can be achieved by not rocking the boat, by not taking courageous steps, by not doing hard work, and simply by riding on the coattails of those who have created great things in the past are mistaken. We must never take for granted that the great achievements made so far will stand without us protecting them. Today, we must run UASF nodes to ensure that SegWit is activated and that we preserve the principle that users bitcoin are the ones who enforce the rules of bitcoin.

submitted by /u/logical
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